Tuesday, 16 December 2014

Perwaja Steel to undertake retrenchment exercise

PETALING JAYA: Perwaja Holdings Bhd has came out to
clarify that its its wholly-owned subsidiary, Perwaja Steel Sdn Bhd
(PSSB) has in fact ceased all material operations since August 2013 when
its dry gas and electricity supplies were curtailed.

"Given the cessation of operations, PSSB intends to undertake a
company-wide retrenchment programme for its employees," it told Bursa
Malaysia yesterday.

To date, it said that PSSB has about 1,000 employees under its employment."All the employees have been informed on the Proposed Retrenchment
Programme, and PSSB is currently undertaking a consultation process with
the employees via their appointed representatives."Perwaja said the financial impact of the proposed retrenchment programme can only be determined once the plan is finalised.